Business | Jul 28

Indonesia's Jokowi calls for Japan investment in EVs, new capital

Indonesian President Joko "Jokowi" Widodo and a top minister have urged Japan to invest in the electric vehicle industry and other infrastructure projects, including in Indonesia's planned new capital, stressing that their country is well positioned for post-pandemic economic growth.

The Indonesian president met Japanese Prime Minister Fumio Kishida in Tokyo on Wednesday, discussing economic cooperation and infrastructure development.

During the meeting, Widodo expressed his hope for more investment by Japanese companies. Kishida promised Japan would provide an official development assistance loan of about 43.6 billion yen ($320 million) for the completion of a hydroelectric power plant in Indonesia, according to a joint press announcement.

Widodo said Indonesia's key development projects include the extension of the Jakarta Mass Rapid Transit system, a liquefied natural gas plant in the offshore Masela Block and the new capital, Nusantara, and asked Kishida to help.

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